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Singapore blocks Income’s deal with Allianz
Singapore to block Allianz deal for Income but open to new offer, PM says
Singapore will block a bid by German insurer Allianz to buy a majority stake in Singapore's Income Insurance but remains open to a new deal if its concerns can be addressed, Prime Minister Lawrence Wong said in a Facebook post on Monday.
Allianz to consider revising proposed Income deal; respects Singapore government's position
Income Insurance also said that it "respects" the government's decision and will work closely with the relevant stakeholders to "study and decide on the next course of action", taking into account the upcoming amendments to the Insurance Act.
Singapore to Halt $1.69 Billion Allianz Deal for Majority Stake in Income Insurance
The Singapore government plans to put a halt to a proposed deal by Germany’s Allianz to buy a majority stake in Singapore insurance company Income Insurance.
Ex-Income CEO 'welcomes’ government's Allianz-Income deal block; Allianz to consider revisions to proposed transaction
It is also not clear what Income might do after the capital extraction, for example to adjust or trim its insurance portfolio, and what impact this could have on policyholders: Minister Edwin Tong
Allianz to consider revising Income offer after current deal blocked by Singapore Govt
Income and NTUC Enterprise said that they will work closely with relevant stakeholders to decide on the next course of action. Read more at straitstimes.com.
Singapore Blocks Allianz’s Bid for Income Insurance Over Public Interest Concerns
The government has tabled an amendment to the Insurance Act in Parliament, enabling the Monetary Authority of Singapore (MAS) to withhold approval of transactions involving current or former cooperative insurers if public interest is at stake.
Singapore blocks Income-Allianz deal but leaves door open if concerns over public interest are fully addressed
The Ministry of Culture, Community and Youth says it is not confident that the proposed transaction would not affect Income, or the co-op movement as a whole to carry out its social mission.
Singapore government blocks Income-Allianz deal
The deal between German insurer Allianz and Income Insurance has been called off by the Singapore Government over concerns over the structure of the deal and also about the ability of Income Insurance to continue its mission,
Singapore blocks Income’s deal with Allianz, as PM Wong cites ‘structure, terms’ concerns
Prime Minister Lawrence Wong says the government remains open to a new deal if the concerns are fully addressed.
Singapore Blocks $1.7 Billion Allianz-Income Insurance Deal
The Singapore government is seeking to stop a proposed deal by Allianz SE to buy a majority stake in Income Insurance Ltd. under its current form. Most Read from BloombergDubai’s Allure to Expats Is Weighing on City’s InfrastructureThe Master Plan That Shaped Pakistan’s Capital Is No Longer WorkingThe Cablebus Transformed Commutes in Mexico City’s Populous OutskirtsAs Brussels Booms,
Singapore to block Allianz deal for Income, citing public interest, CNA reports citing minister
Singapore's government has decided it would not be in the public interest for German insurer Allianz to buy a majority stake in Singapore's Income Insurance for about $1.6 billion, Channel News Asia reported on Monday,
38m
Allianz-Income deal frazzle shocks insiders; coming up with new proposal no easy task
Allianz and NTUC Enterprise were informed of the rejection shortly before the government decision was made public. Read more ...
Business Times
3h
Allianz to consider revisions to proposed Income deal; says it respects Singapore government’s position
GERMAN insurer Allianz will consider revising the proposed transaction structure to purchase a majority stake in Singapore’s ...
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